Dogecoin Price Prediction- Can Musk Twitter Takeover Pump DOGE to $1?
Dogecoin price continues to reward investors amid an Elon Musk-triggered rally. As reported on Friday, the largest meme coin surpassed the forecasted target at $0.1000. If the attention DOGE is getting spills into the new week, investors can acclimatize to Dogecoin price tagging of $1.0000.
The world's wealthiest man is now at the helm of the microblogging platform Twitter. Elon Musk completed his $44 billion bid on Twitter late Thursday and immediately took over from the ongoing CEO, Parag Agrawal. Two more top executives were shown the door, including the company's CFO, Ned Segal and the head of legal, Vijaya Gadde.
Musk's Twitter takeover has taken many turns and twists since he first mentioned it in April. The following months saw the billionaire try to back out of the deal, but Twitter sued him to compel him to allow the deal to sail through.
Meanwhile, Dogecoin price is up 80% over the last seven days amid a rally ignited by the business magnate, who doubles up as the CEO of Tesla – the world's largest electric vehicle manufacturer.
Musk's association with Dogecoin has frequently caused a stir, with the price soaring to new levels. Musk's tweets mentioning Dogecoin have, in the past, acted as a bullish trigger for Dogecoin price.
Now analysts believe that the Dogecoin rally could be sustainable and expect the meme coin to push past its record high at $0.7315 for a maiden run to $1.0000.
Nevertheless, the Dogecoin price must secure higher support, preferably above $0.1000. DOGE exchanges hands at $0.1140 at the time of writing.
Looking at the Moving Average Convergence Divergence (MACD) indicator, Dogecoin price has the potential to obliterate resistance at $0.1400 this weekend, in addition to another vivid buy signal
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